Transfer My Entire Savings to Cryptocurrencies?

[raahi]

Assume a scenario in when even though most of the people in the world are in the factor of bitcoin being the future of the world it is actually a bubble, and this led to the fact that if you put all f your savings in this market when it crashes you will have nothing left

[1715271894]

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[1715271894]

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[megacrypto]

If you're confident and already have some experince with stocks than go ahead. Bittrex is safe exchange. Cryptopia is good for some lowcaps

[websoftwareengineer]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

In my own opinion, transfering your entire savings into cryptocurrency is not a good idea because it will only make you lose a huge amount of your coins today since the prices are still dumping in the market.

[Deubila]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

I wouldn’t advise you to move all your savings to cryptocurrencies, it’s very risky, there is nothing wrong with it if you leave it in bank. If you want to put your money into cryptocurrency, don’t put all, just divide it and put half of it or any amount you can afford to lose. Bitcoin is risky and profit does not come all the time. I remember that there are people who lost up to 50% last year.

What you say is very reasonable, cryptocurrency does not always bring us profit, risk is something that always exists and appears very unexpected in this market, just with a few minor flaws and if we do not spot it in time, losing more than half of the capital is very normal. However, we still can not deny the profit that crypto has brought, many people suddenly become rich with crypto in just a few nights when they invest all their savings on it, so back to the question of the topic, the answer would be that as long as we know what we are doing, everything is possible

Exactly. You're right. This market will win and lose always exists in parallel. However, we need to make smart choices so that we do not get caught up in difficulties. Need to have a strong belief and live up to the optimistic, you are the winner of every market, I believe so.

[developer101dev]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

In my own opinion, that will be the biggest mistake you will be going to made, the market prices is unstable due to volatility so you might get broke if you did not have any back up when the prices drop down.

[ZeusTrade]

it will be a mistake to continue the same way as we know crypto is unstable and you dare to put your v PRA ETHERDELTA VC EVEN THAT DOES THINGS AND PRICES

[clip123]

going all in is obviously a mistake. Do you want to tell us which route you took and how it impacted you? that may help other traders here

[lilanka]

I think it is not a good idea. Keep some savings in your pocket as a backup. Invest some in crypto.

[MDIPANJAN]

That'd be a very risky move i would say. Don't do that please.
This market is still very volatile and you can loose all your savings
so invest what you can afford to loose.

[mornabo]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

In that case I think much better to don't put your all savings in crypto because a huge money like that is so risky. Maybe divide it so you can assure that you will get a good earnings or profit.

Thats right, All In on something risky is the wrong strategy I think, because you have the possibility to lose all your money? you need
to manage finances so you do allocate the right funds for investment or saving, do not take risk too big with all in at crypto

[Sandy25]

I would not recommend that for me personally it is not easy into crypto as 123 if you dont have any experience on this.. Investing on stock exchange is good so i guess leave it there and just put some portion of your savings on crypto..  Always best time to invest on dip the profit will easy to achieve on that.. Or buy some good coin for long term one.

[Teebass001]

Yeah you can make more money trading crypto like you rightly asserted. But have you also considered that you can also lose everything overnight in crypto. It's a two way traffic. I would advise you against putting your entire life saving in crypto, you can do 50% instead. And leave the other 50% in traditional stocks where you are assured of safety. As regards leaving your money on exchanges. No exchange is safe, I would rather advise that you get the wallet for any coin you are willing to hold and transfer it there or you might have to consider any of these wallets, ledger Nano or Trezor. Good luck mate

[LianaSie]

I would not recommend to hold all your cryptocurrencies in Binance. Even it looks like one of the safest exchange, anything can happen. Maybe a ledger nano S, or trezor could also cause more safety.

[Maricurijohn]

It is risky for you, I think you should spend part of the money on electronics, because this market is constantly changing if you concentrate on investing all you will regret if you lose money.

[Ponchik34]

3DES finally launched their tokens! It's a very interesting project, I'm watch their development since autumn. Those guys develop a tasks exchange to process 3D printing models, MVP is ready, and recently they announced scaling up the project concept to create a universal computing tasks exchange. For now the tokens are only on Etherdelta, and soon will be on IDEX. I think I got to buy lots of them.

[YNAGS Team]

This can be both the best idea in your life and the worst decision as well you need to pay maximum attention to the cryptocurrency that you are about to buy and invest in. Because it is very serious thing.

[p i e c e]

Putting all your money into crypto currencies is good but very risky and not advisable to do so for me. It is better to use Bittrex as an exchange site cause their security system is good (but annoying).

Too much risk, man. If you are the newbie, you can choose the outsiders, I mean the cryptocurrencies that will fall but not grow. You can be a loser then.

[deus030518]

You should not put all your money in the cryptocurrency so you will not lose what you cannot afford to lose. You can divide your saving to a different coins so that if you lose the one that you invest there is on the rise you up from your lose. If you only invest in one coin the it lose you will not earn what you invest and you might say that if you did not invest in the crypto currency then you still have money for your daily needs.

[merrillolive]

Yes. That is a risky decision, if you loopholes you will lose capital, do not risk so risky, I think the market is falling, suitable for you to buy. But do not invest all.

[canadinhano]

Too risky, I think you should transfer 50% to invest, do not invest all in them, if you mistake you will lose capital and you will regret it.